Land, Inheritance and Firstborn Problematics

Abstract. Introduction. In this article land as the first input factor in the classical production function is analyzed. In economic theory, land is linked to heritage and the firstborn problematics. The methods used are based on history of entrepreneurial research, philosophy, legal and theological aspects. Land represents both opportunities but also obstacles, especially in connection with the firstborn problematics. Purpose. The article deals with land, inheritance and the firstborn problematics, its historical basis and consequences for economic and social development. Results. Land is the first input factor in the production process, whose utility and purpose is to create financial profit. Land is covered by everything that is given by nature. The human organism and all that can be extracted from it is land; in processed condition a product or commodity. In an economic theoretical context, inheritance means receiving property from someone who has died, or to bequeath or make a deathbed will, and inter-vivos gifts made by donors in anticipation of their eventual demise. Inheritance by primogeniture not only secures the firstborn son a greater share of the wealth of the entrepreneur, but it also makes the firstborn son in charge of the clan, which is practically similar to being a king. Primogeniture is linked to factors in business and society that are characterized with static economy. Control, routine and stability represent the framework of static production. Schumpeter characterizes entrepreneurs according to will and act, which is the opposite and thereby the forces behind the young men who change to world to the better for all. Entrepreneurs are the creators of civilization. Conclusions. Land as an input factor in the production function represents an infinite wealth in the world. As a result of the increased degree of innovation, the world’s wealth is accelerating. Only wealth can be inherited, the ability to innovate cannot be inherited or transferred from father to son. Keywords. Land, inheritance; firstborn problematics; production function; primogeniture.